As a non-resident to open a business in the United States: the choice of the type of company - ForumDaily
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As a non-resident to open a business in the United States: the choice of the type of company

Фото: Depositphotos

In the US, an extremely simple procedure for opening your business. At the level of a private entrepreneur in most states, even registration is not required. But if you are a foreigner, the possibilities are significantly narrowed. In addition, there are issues of implementation activities after registration. But all in order.

Non-residents are free to organize With corporations and partnerships (provided that they have more than one founder). Please note that such a common form of companies in America as C Corporation is allowed only for residents.

In the case of partnership, when one or more of the founders are foreign partners, the partnership is obliged to pay federal taxes from a non-resident's share on a quarterly basis at a rate of 35%, and all income of such a non-resident in the US is subject to taxation. Therefore, in most cases, from this form of the enterprise refuse.

LLC is a form of partnership. But if such a company has only one founder, it is considered a disregarded entity — that is, from the point of view of the tax service, such founder is an entrepreneur, and all tax reports are submitted as his personal. This practice is extremely disadvantageous from the point of view of the owner, since, as a result, such incomes are taxed at the highest possible rate. In the case of several partners, even if one of them is a resident, the tax authorities (IRS) apply the same rules as for partnerships in general.

As a result, C corporation (C corp) remains. The procedure for registering such an enterprise is determined by each state separately. About what state to choose - let's talk later, and now about the typical registration procedure.

The principal difference between the registration of a corporation and the practice adopted, for example, in Ukraine, is that the corporation is first registered, and only then it becomes overgrown with various internal charters and other constituent documents. Most states fix the very fact of the company, but the order of how shares are distributed there and how they are managed is fixed by documents adopted after registration.

What is important to know:

  1. Your company must have a unique name. Usually, state sites have an online search by business name, and you can check which names are already being used. Or this service will provide the agency that performs the registration.
  2. После регистрации вам надо определиться с регистрационным агентом (registration agent) — лицом или компанией, которые будут формальным информационным посредником между государственными органами и вами. Обычно этот сервис предполагает получение всей вашей почты и пересылку ее на ваш реальный адрес.
  3. Then you must appoint the president, the official responsible for finance (no standard name) and secretary. If a corporation is registered through a special service, then usually you get a package of standard documents, where there is the text of the first protocol on the appointment of such officials.
  4. Every year after registration, you are required to confirm the active status of the corporation in the state where the company is registered. Filing Tax Returns not a form of confirmation of the active status of the corporation! Formally, you must annually hold meetings of the company's managers (board of directors), fix them with the appropriate protocol and, based on this, you or your registration agent must submit this information to the state. The registration agent is not engaged in the creation and storage of such documents. The job of this service is to be your channel of communication with government agencies. In addition, most states have a direct online service to confirm the status of the company as active.
  5. The protocol on the appointment of corporate managers is necessary, since it is this document that the bank requires to confirm the authority to open bank or investment accounts of the company.
  6. After registration, you need to get your company tax number in IRS. This procedure is absolutely free on the website. IRS.
  7. Do not forget that even if the state does not require you to submit documents regulating the management and operation of the corporation, this does not mean that they should not exist. Such documents are called bylaws, and they describe in detail who owns, manages and disposes of the corporation, as well as the procedure for its liquidation.

In general, registering a company in the USA is probably the easiest stage in setting up your business. In the next part we will talk about where it is most advantageous to register a company.

This material does not constitute written tax advice or legal advice. Any information from this material is not created for use by the taxpayer in order to avoid any sanctions imposed on the taxpayer, and also can not be the basis for consultation by third parties. Please always consult a professional service before taking any action based on the information from this material. Keep in mind that information may be outdated at the time of reading, and we do not undertake to guarantee the updating of information. Copyright www.Solven.pro. Xnumx

Original article published on the site Solven.pro.

See also:

Five ideas for female business from Russian immigrant women

How to open a successful small business in the United States. "Russian" stories

How Ukrainian built in the US business worth $ 250 million

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